Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have been given a consensus recommendation of “Buy” by the six analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $3.31.

Several research firms recently weighed in on BLDP. FBR & Co restated an “outperform” rating and set a $3.50 price target (up previously from $3.00) on shares of Ballard Power Systems in a research report on Monday, May 1st. Zacks Investment Research downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Ballard Power Systems in a research report on Friday, August 4th. BidaskClub downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Roth Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “neutral” rating and set a $3.00 price target for the company. in a research report on Thursday, May 4th.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Ballard Power Systems by 483.1% in the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after buying an additional 137,200 shares during the last quarter. KCG Holdings Inc. increased its stake in Ballard Power Systems by 220.0% in the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after buying an additional 140,603 shares during the last quarter. Bluestein R H & Co. increased its stake in Ballard Power Systems by 12.5% in the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock worth $500,000 after buying an additional 25,000 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Ballard Power Systems by 16.9% in the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after buying an additional 26,314 shares during the last quarter. Hedge funds and other institutional investors own 2.57% of the company’s stock.

Shares of Ballard Power Systems (NASDAQ:BLDP) traded down 1.03% on Friday, hitting $2.89. The stock had a trading volume of 597,178 shares. The firm’s market cap is $508.74 million. The firm’s 50-day moving average price is $2.90 and its 200 day moving average price is $2.53. Ballard Power Systems has a 12 month low of $1.61 and a 12 month high of $3.48.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.

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